{"data":{"id":"us-md/md.-code-local-government-17-104","jurisdiction":"us-md","citation":"Md. Code, Local Government § 17–104","heading":"","body":"(a) This section applies to the following governmental entities:\n(1) the governing body of each county;\n(2) the governing body or chief fiscal or administrative officer of each\nmunicipality;\n(3) the governing body or chief fiscal or administrative officer of:\n(i) each road, drainage, improvement, construction, or soil\nconservation district or commission; or\n(ii) the Upper Potomac River Commission;\n(4) each county board of education, including the Baltimore City\nBoard of School Commissioners;\n(5) any other political subdivision or body politic and corporate of the\nState;\n(6) a unit of a political subdivision of the State; and\n(7) the trustees or other officers in charge of a pension or retirement\nsystem or fund of:\n(i) the State;\n(ii) a political subdivision of the State; or\n(iii) a unit of the State or of a political subdivision of the State.\n(b) Notwithstanding any other law, when a governmental entity is required\nor authorized to invest in, purchase, or take as collateral a bond, an obligation, or any\nother evidence of indebtedness of the United States, the governmental entity may\ninvest in, purchase, or take as collateral an obligation or security of or other interest\nin an open–end or closed–end management type investment company or investment\ntrust registered under the federal Investment Company Act of 1940, 15 U.S.C. § 80A–\n1 et seq., if:\n(1) the portfolio of the investment company or investment trust is\nlimited to:\n(i) direct obligations of the United States; and\n(ii) repurchase agreements that are fully collateralized by\nobligations of the United States; and\n(2) the investment company or investment trust takes delivery of the\ncollateral directly or through an authorized custodian.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=17-104","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"1f84860b05c9efcd6c6e9625f201793b22d0238792cbf61ca108b6fb758c5ce8","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-17-103","next":"us-md/md.-code-local-government-17-201"},"notice":"GroundRules: Original legal text. Not legal advice."}